Missouri, renowned for its thriving cattle farming industry, has seen remarkable progress since the inauguration of the Missouri Agricultural Food and Forestry Innovation Center (MAFFIC) in January. Backed by a $1.3 million grant from the United States Department of Agriculture Rural Development (USDA-RD) over two years, MAFFIC has already collaborated with 65 businesses, propelling them towards product development success.
Although faced with a temporary setback due to COVID-19, MAFFIC recommenced operations in January, and since then, it has assisted approximately 81 individuals in making critical decisions and implementing transformative changes within their businesses. Mallory Rahe, associate MU Extension professor, highlighted the center's mission to enable farmers to convert initial concepts into sustainable enterprises or expand their existing successful ventures with confidence. The dedicated team at MAFFIC offers valuable guidance on various aspects, including strategic business implementation, target market identification, financial record-keeping, cost comprehension, and ensuring food safety.
Post-pandemic, both consumers and producers have shown heightened enthusiasm for growing local food, further amplifying the impact of MAFFIC's endeavors. By working closely with farmers, the center assesses business readiness, assists in selecting appropriate business
structures, tests innovative concepts, and aids in comprehensive business planning. Additionally, MAFFIC provides financial advisory services to help farmers compile essential financial statements, access capital, budget effectively, and make accurate financial projections. The center also aids in grant program applications, facilitates market channel reevaluation, and supports farmers in expanding their customer base.
The achievements of MAFFIC directly contribute to the overarching goal of doubling the economic value of Missouri agriculture by 2030, while also ensuring the preservation of natural resources. These efforts align perfectly with the implementation of Missouri's Show-Me-State Food, Beverage, and Forest Products Manufacturing Initiative. The positive outcomes stemming from MAFFIC's initiatives are expected to further strengthen the University of Missouri (UM) System's $6.5 billion economic impact in the state.
Farmers and producers seeking to benefit from MAFFIC's invaluable resources and expertise can visit the Missouri Agriculture Innovation Center's website. Embrace the opportunity to transform Missouri agriculture and drive substantial economic growth in the region.
Photo Credit: pexels-karolina-grabowska
Categories: Missouri, Business